African leaders presented a unified plan during the regional energy summit in Tanzania last week which promoted and canvassed calls for more investment in aging grid infrastructure in the continent to tackle widespread power outages that hamper major economies including Nigeria.
Leaders sought for the expansion of modern energy access to half of the 600 million people who lack it on the continent.
The conference was organised by Mission 300, an initiative launched in April 2024 by the African Development Bank and the World Bank to provide 300 million energy-poor Africans with electricity by 2030.
This is designed to be executed mainly by connecting them to national grids or local minigrids powered by renewables such as solar.
The development banks have committed to collectively deliver $40 billion under the initiative a target that was raised this week to more than $50 billion by contributions from other financial institutions, including the Asian Infrastructure Investment Bank (AIIB) with around $1.5 billion and the Islamic Development Bank Group with $2.65 billion.
To meet the Mission 300 goals, a first batch of 12 countries, Nigeria, Chad, Côte d’Ivoire, Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Senegal, Tanzania and Zambia presented national energy compacts with detailed targets to scale up electricity access through renewable energy, as well as strategies to boost regional integration and attract private sector investment.
Presenting their plans, African leaders spoke of how outdated infrastructure has limited energy expansion on the continent and held back development in areas likehealthcare, education, job creation and digital inclusion.
Nigeria’s plan, for instance was more of a major concern on the ability of the transmission system to evacuate available generation capacity which is grossly is inadequate due to aging and poorly maintained infrastructure.
Nigeria At the summit called for “targeted concessionary lending to qualifying distribution companies (DisCOs) to strengthen distribution infrastructure”.
Makhtar Diop, managing director of the International Finance Corporation (IFC), noted that “a lot of the power outages in Africa are not linked often to production they are often linked to distribution because the [electricity] network is not robust enough” and called for investments in distribution.
The companies managing distribution require capital injections because most are “under-capitalised and not in a good finance situation and therefore not able to invest in operational maintenance,” he added.
Off-grid electrification is also seen as key to the Mission 300 objective – and the energy compacts presented in Dar es Salaam reflected how, in the face of delays to grid extensions, distributed renewable energy (DRE) offers a faster means to electrify under-served communities.
Half of the Mission 300 goal is due to be achieved by off-grid connections. World Bank President Ajay Banga said geo-spatial mapping was being used within countries to decide which areas can be connected to the grid and which require DRE, including solar and battery storage systems that are “cheaper and faster” to install.
Woochong Um, CEO of the Global Energy Alliance for People and Plant (GEAPP), said this group of government agencies, development banks and philanthropic foundations, is looking to support “hard-to-reach activities, like the productive use of the electrons by the farmers and people on the ground”. GEAPP is planning to pilot promising models that can be scaled up by banks if they produce successful results, he told Climate Home.
Sarah Malm, executive director of GOGLA, a global association for the off-grid solar industry, said off-grid systems “will complement weak grid environments” as the “least-cost and the fastest way to get basic energy access to households”, especially in rural communities.
“It provides light to study. It provides safety. It provides the ability for a kiosk to stay open at night. It provides really huge quality of life improvements – and then also, when light is intermittent and the grid doesn’t work, it is a source of back-up,” she said.
From 2020 to 2022, off-grid solar accounted for 55 per cent of new connections in sub-Saharan Africa, according to the World Bank, and is projected to provide electricity access to nearly 400 million people by 2030.
Malm believes that off-grid solar is the best way to achieve the global goal of providing everybody with modern, sustainable power by 2030, because extending power grids is a long-term investment and progresses more slowly.
Private-Sector Investment
African leaders and energy backers at the summit highlighted the role of private-sector investment in fulfilling the goals of Mission 300.
“To actually achieve what we want to do, it requires more than public-sector money, it requires a lot of private sector,” said Akinwumi Adesina, president of the African Development Bank Group. He added that the private sector will play a role in delivering mini-grids and providing electricity to under-served areas.
The cost of capital, however, is one of the major challenges facing businesses in Africa.
Mission 300’s partners will “play a big role to reduce the risk using partial risk and credit guarantees” and provide long-term, low-interest capital, as well as develop bankable projects to attract private investors, Adesina said.
Um told Climate Home that GEAPP will work with multilateral development banks to help governments set up regulatory frameworks that can reassure the private sector their investments in African countries are safe.
Diop of IFC said the private sector is not yet as involved as it should be in financing clean energy development in Africa and this has constrained the uptake of renewable energy. He called for a “change in the paradigm” to catalyse heavy investment in renewables.
Consolidating Nigeria’s Energy Views
President Bola Ahmed Tinubu, at the summit highlighted Nigeria’s commitment to achieving universal energy access by 2030, emphasising the government’s target of increasing renewable energy to constitute 50 per cent of the national energy mix.
Tinubu said, “ We are committed to expanding and fast-tracking universal energy access for Nigerians by 2030. This will involve increasing electricity access, boosting clean cooking solutions for 227M people and expanding our renewable energy to 50 per cent of the energy mix amongst others.”
The Mission 300 Summit brought together African leaders, international energy stakeholders, and development partners, with a shared goal of fostering collaborations to address Africa’s energy deficits.
Tinubu stated Nigeria’s leadership role in advancing renewable energy solutions and its strategic policies designed to attract investment in the sector.
Nigeria’s Push For Clean Energy Investments
Also, at the summit, Nigeria’s minister of finance and coordinating minister of the economy, Mr. Wale Edun, delivered the keynote address during an exclusive dinner.
Addressing selected investors and development partners on Sunday evening, the Honourable Minister highlighted Nigeria’s electricity sector as a prime opportunity for investment, emphasising the nation’s commitment to macroeconomic stability, clean energy goals, and achieving universal energy access under the “Mission 300” initiative.
Edun demonstrated the government’s initiatives, which include reforms in the power sector, renewable energy incentives, and the prioritisation of grid and off-grid solutions to ensure equitable energy distribution.
It is understandable that Nigeria which grapples with poor power generation is expected to seize this opportunity or remain trapped in outdated energy policies.
Interestingly, indigenous brands like iPower are already leading the way, proving that Nigeria does not have to be left behind.
One of renewable energy’s biggest advantages is that it provides off-grid solutions a crucial benefit for remote villages where electricity grids are non-existent. Solar panels, wind turbines, and hydro mini-grids are offering lifelines to communities that have long been neglected by traditional energy providers.
Beyond environmental benefits, renewable energy presents a strong economic case. Traditional power sources come with high fuel costs, maintenance expenses, and environmental levies. In contrast, solar and wind energy offer long-term savings, reduced reliance on imports, and the potential to create thousands of jobs in manufacturing, installation, and maintenance.
A stable power supply means extended operating hours and increased productivity for small businesses, uninterrupted medical care for hospitals, and access to digital learning tools even after sundown for students. Energy access is not just about convenience it’s about economic empowerment.
Nigeria cannot afford to sit on the sidelines.
Forward-thinking companies like iPower, which has a vision to power Africa sustainably, are proving that clean energy solutions can be accessible, affordable, and effective.
Unlike generic imports, iPower’s renewable energy products are specifically designed to meet Nigeria’s unique energy needs factoring in extreme weather conditions, infrastructural gaps, and affordability.
iPower’s product lineup includes solar home systems that provide uninterrupted power for households, portable energy solutions for businesses and remote areas, and advanced battery storage technologies to ensure consistent electricity supply even during peak usage hours. Beyond just providing products, iPower is shaping the future of renewable energy in Africa by investing in education and awareness campaigns, ensuring that more people understand the benefits of switching to clean energy. By integrating innovative financing models and local partnerships, iPower is making it easier for Nigerians to transition to clean, reliable energy solutions without the burden of high upfront costs.
For Nigeria to become a key player in the global renewable energy sector, both private enterprises and government action must align. Companies like iPower are already making strides, but government support is essential to scale these efforts.
The government can play a critical role by providing incentives such as tax breaks and subsidies for renewable energy projects, investing in infrastructure to support large-scale solar and wind energy farms, partnering with private companies to expand access to affordable clean energy solutions, educating the public on the benefits of renewable energy adoption.
The world is moving towards a clean energy future, and Nigeria has a choice: act now and lead the transition in Africa or risk being left behind. With iPower at the helm, the vision of a sustainable, self-sufficient Nigeria is no longer a distant dream it is an achievable reality.
The future is not in generators that guzzle fuel or diesel and pollute the air. The future is in the power of the sun, the strength of the wind, and the innovation of homegrown companies like iPower. The time to act is now.
Sahara Group Keys Into Initiative
The Executive Directive of Sahara Group, Mr. Kola Adesina, has excitedly declared that his company’s plans to key into Africa’s collaborative energy strategy to address the continent’s energy deficiency.
In particular, the Group has indicated interest in Nigeria’s ambitious energy strategy that requires private sector participation.
Adesina, said Africa needs to adopt collaborative policies, sustained multi-stakeholder investments, and bold reforms in the quest of addressing the continent’s low energy access.
Speaking to the media at the recently concluded Mission 300 Africa Energy Summit in the Tanzanian commercial capital, Dar es Salaam, Adesina said the continent’s pressing energy challenges require immediate action involving African nations and international partners to adequately power underserved regions, promote renewable energy adoption, and improve energy efficiency across the continent.
Also, at the summit, the Federal Government launched a bold initiative to bridge Nigeria’s electricity gap, unveiling an ambitious energy access program aimed at revolutionizing the country’s energy sector.
It said the programme will require $23.2bn, out of which $15.5bn will be provided by the private sector.
Minister of Power, Adebayo Adelabu, is spearheading the programme.
The programme is a fallout from the just-concluded Mission 300 Africa Energy Summit held in Dar es Salam, Tanzania.
The two-day summit, which brought together African leaders, business executives, and development partners to advance the continent’s ambitious energy agenda was hosted by the Government of Tanzania, the African Union, the African Development Bank Group, and the World Bank Group, and aims to accelerate electricity access for 300 million Africans by 2030.
Through the energy access programme, tagged National Energy Compact, the government aims to increase electricity access from four per cent to nine per cent annually to close the energy gap, boost access to clean cooking solutions from 22 per cent to 25 per cent annually, expand renewable energy’s share in the power generation mix from 22 per cent to 50 per cent, and mobilise $15.5bn in private investment to drive last-mile electrification.
While unveiling the programme, the Minister said it would expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians.
With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030.
“Sahara Group is delighted that heads of government and other critical stakeholders are keen on lighting up Africa by exploring creative ways of extending electricity to over 600 million Africans who currently lack access. The agreement to provide access to electricity for 300 million people in Africa by 2030 which was endorsed by the heads of government and key partners at the summit is a huge step for Africa. Sahara Group is committed to supporting the achievement of this laudable vision through working in collaboration with all stakeholders,” Adesina said.
According to Adesina, the task ahead calls for partnerships among governments, private sector stakeholders, development partners, and civil society organizations. He noted that in addition to securing funding, robust capacity building in energy infrastructure and technology would be required to deliver the initiative seamlessly.
“We are up against the all-important task of bridging the energy gap in Africa and need a strong coalition of stakeholders to achieve this. We will need bold policies and tariff reforms and an unwavering commitment to funding the infrastructure required to bring energy to life responsibly in Africa. Sahara Group has invested in this project, and we are already enhancing our power operations to deliver reliable, affordable, and sustainable energy solutions to improve energy access and economic growth,” he added.
Adesina said working through the Sahara Power Group, the energy conglomerate would continue to make “viable and sustainable” investments in Power Generation and Distribution assets across the continent.
“With about 2,000MW generation capacity, Sahara’s dedication to enhancing energy access is unwavering. In Nigeria, we are set to deliver a new 180MW Power Plant in Rivers State this year to boost power supply and drive industrialisation in Africa’s most populous nation. Sahara Power Group is also exploring investment opportunities in Hydro Generation Plants in East Africa to promote access to clean energy.”
The Mission 300 initiative aims to connect 300 million people to reliable electricity by 2030, ultimately increasing energy access and promoting environmental sustainability through deployment of renewable energy solutions.
Alongside other African and global partners s who have pledged to fund and suppport the initiative, the World Bank Group and Africa Development Bank (AfDB) are expected to play a significant roles in financing energy projects, project development and advisory, leveraging partnerships, policy support, capacity building, as well as sustainable and inclusive development.
